San Francisco, California - Tesla CEO Elon Musk has been once again declared the richest man on Earth, after losing the title just a few months ago.

According to Bloomberg, Musk's net worth was around $187.1 billion after markets closed on Monday, bumping him back up to the top spot.

Musk was knocked down to second place back in December after Tesla stock dropped considerably. Bernard Arnault, whose wealth primarily comes from his 48% ownership of luxury goods company LVMH, took his place.

Now, Musk has taken back the title after 2023 saw a 70% surge in Tesla stock.

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While he may be the richest man, he also holds the record for having lost the most money ever. Earlier this year, it was reported that Musk lost $200 billion between November 2021 and December 2022, significantly dropping his net worth from $340 billion to $137 billion.

He has also struggled to financially maintain Twitter, but shared earlier this month that he effectively saved the social media platform from bankruptcy.

Elon Musk says he doesn't plan to continue being CEO of Twitter for long, as he is currently seeking for someone to take over by the end of the year.